Facebook Makes Unexpected U-Turn on Crypto Advertising

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Facebook Makes Unexpected U-Turn on Crypto Advertising

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Social media giant Facebook has suggested in a blog post that it may allow some companies to place adds on their platform despite the recent cryptocurrency advertising ban.

The new measures are the launching of a “cryptocurrency products and services onboarding request” form which will allow Facebook selective advertising. The company suggests minor changes to its current policy may be expected in the future although there is no indication of what these might be and if they will impact on cryptocurrency advertising.

Any change, however, will not impact the current new guidelines regarding the announcements of ICOs which was also adopted by Twitter, Google and other major sites earlier this year. Facebook will now check to confirm if potential advertisers are publicly listed and have the relevant licenses to operate.

“In the last few months, we’ve looked at the best way to refine this policy — to allow some ads while also working to ensure that they’re safe… So starting June 26, we’ll be updating our policy to allow ads that promote cryptocurrency and related content from pre-approved advertisers. But we’ll continue to prohibit ads that promote binary options and initial coin offerings,” read the blog post.

Rob Leathern, product management director for Facebook, commented, “Given these restrictions, not everyone who wants to advertise will be able to do so. But we’ll listen to feedback, look at how well this policy works and continue to study this technology so that, if necessary, we can revise it over time.”

The announcements have been well received by cryptocurrency PR companies. Trey Ditto, the founder of Ditto PR, a crypto public relations firm, calls the move a “first step” in allowing credible projects to present their projects to new customers, not to mention the boost to Facebook’s advertising revenue.

Crypto pundits are now waiting to see if Facebook’s U-turn will be replicated by Google, Twitter, and Snapchat.


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